Re: Lease spreadsheet update - Saab 9-5 Bulletin Board - Saabnet.com
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Re: Lease spreadsheet update
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Posted by David G. Mills (more from David G. Mills) on Sun, 3 Jun 2001 09:47:42 Share Post by Email
In Reply to: Re: Lease spreadsheet update, Marc, Sun, 3 Jun 2001 01:49:00
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My real point is that you haven't included the financing on the residual value. That could be substantial at used car interest rates. I also don't believe the average person would make $3-4K putting on an $8K downpayment (or on $7K if you still put $1K in to cap cost reduction) in an investment somewhere.

Don't get me wrong. I have three Saabs on lease. I'm just not yet convinced that if you really do intend to buy the car, whether leasing is better. But to me it is close enough that if you are not certain, then it is the way to go.

Also, leasing may be better if you can get the lessor at the end of the lease to sell for less than residual. I noticed a poxting on the 9-3 board last night that some 9-3 lessees are getting Chase to sell them the car for a substantial discount. I am going to check into that since I have two Chase leases. But my salesman told me that there is gap insurance which pays the lessor the differential between the residual and the market value at the end of the lease. The kicker is that for there to be coverage, the car must be sold on the open market, not to the lessee. If that is the case, then Chase would have no incentive to sell. It is definitely worth finding out though.

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